The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-02-08
rHr nusInEss SITUATION.

bOnAM6 S6 Alths
There was some quietude In business
Lest week, owing to TIE prevalent labor
troubles and to the expectation Of war
in Europe. These expectations, how.
ever, are now less strong, as 1t is sup
p ssd that war runners are in a great
measure m sQnified by Bismarck for
political effect 10 influence the coming
elections. There Is uncertainty about
tn Intentions OF Russia, and complica-
tions may yet alise there. The inter-
state bill has become law and has also
a deterriDg influence, but fears Of III
eff C 8 from 1t have evidently absted
as its provisions are studied more
calmly. The New York Indicator, for
ips'ance, although It has strongly OPP
posed the measure, now says that a
dispstsionate consideration OF the bill
gives no reason whatever for the tx
pectation OF disaster and ruin many
have foreboded, and dem ,goguss
and bear spectators have hoped for.
A more hopeful feeling in England is
al encouraging feeling. The demand
there is strengthening, as prices are
low and stocks small, while labor is
anu ldsnt, aud also the Bank Of Erg-
la I'd has lowered it's rate to per cent.
NJ ney is quite easy in New York, and
fiu 4nCiRllY matters move along
smoothly. The banks are still eur
rendering their circulation, but CON
gress takes no steps toward settling
the difficulty they experienced owing
10 the approaching extinction OF the 8
per cent. bonds. The New York Bl,l.
letin states: "The silver in excess Of
silver certificates outstanding, amouots
to $50 525, los 10, an increase OF about
$4,5O0,000 since January let. This
increase results from the accumulation
OF standard dollars, which have been
returned to the Treasury in consider
able amount since, the new year
begal." Silver was steady until the end
of the week, when it became weak;
the quotation throughout wss AID an
ounce in London against 47bd week
ago, making the,'silver in our dollar
worth 70 6s7 cents. The Wall street
people predict an. early reduction in
foreign exchanges. In.the South gen.
orally there is buoyancy in the trading
circles. The New York 'ladicator
says: "The present is the South's
opportunity.'The strikes in the North
are Just booming the industries Of the
section unkr own tostrikes. The Ten.
nessee Goal and Iron Company are
gamers by the actions OF the Knights
of Labor--forcing Northern capital
and business into that section. Perry
4 Co., oil Albany, the largest stove
manufacturers in the country, having
been forced by the, strikers out OF
Troy aud out OF Sing Sing, WHARF they
worked 1000 hands, have.gone to Ten.
nessee, and will work at least 800 OPP.
eratives. A number OF other manu-
iaeturers are, looking for sites in the
coal and iron regions. The impetus
thus given Is actually booming the
South IN every section" The entire
total OF the clearings reported for LAS
week shows decline OF "a per cent.
as compared with the corresponding
week last year. Thislis owing to do.
crease OF 49, in New York, and Of
course is Wall street, not business
decline. Leaving out New York, the
tolal shows an increase on the week
Of SIS per cent. Only four cities had
q decrease from last year: New York
decreased 1870, Boston la, Galveston
20.4, s. racuse 5.S per cent. Memphis
INCREASED 240 per cent, kansas City
Increased So 9 psr cent.